In this segment of The Ellis Martin Report we speak with Adam Smith, co-founder and VP of Business Development of Oroco Resource Corp (TSX-V:OCO) (OTCQB: ORRCF).
Oroco is focused on the development of a large copper deposit at the Santo Tomas project in coastal NW Mexico. Santo Tomas hosts a multi-billion pound copper resource, defined by historical drilling and currently being confirmed by ongoing exploration drilling by Oroco. Copper mineralization at Santo Tomas is located at surface and therefore potentially amenable to low cost mining methods, is very well located with respect to the infrastructure that’s essential to a large mining operation, and Mexico is among the world’s top mining jurisdictions, with laws and trade agreements that protect the rights of mining companies.
Since commencing exploration and resource definition at Santo Tomas three years ago, Oroco has made a series of rapid advances, and the year ahead is rich with catalysts such as a formal resource definition and economic evaluation, each of which carries the possibility of a company valuation rerating. These milestones will be achieved against the backdrop of a positive forecasts for the price of copper, possibly to historical highs as a result of dramatic shifts in metal’s importance to industrial and consumer markets.
About Oroco Resource Corp
Oroco Resource Corp. founded in 2006, is a Canadian mineral exploration company with a history of and expertise in the development of resource opportunities in Mexico. Oroco is led by a management team with significant experience in exploration, discovery, development and operations in the mineral sector.
Oroco’s focus is on the confirmation and expansion of the historical resource of the Santo Tomas porphyry copper project in Sinaloa State, Mexico, while continuing its assembly of neighbouring mineral concessions and the acquisition of certain other rights associated with the project. Oroco has a controlling interest in 8,908.79 hectares of contiguous mineral concession that cover and surround the known core of the Santo Tomas mineralized structure as well as the potential extensions of the historical resource to the north and south. This controlling interest increases as Oroco funds the additional exploration and development of the project.
The Santo Tomas project is a copper porphyry deposit which is historically defined by a total of 106 diamond drill and reverse circulation drill holes, totalling approximately 30,000 m. In July of 1994, Bateman Engineering Inc. conducted an economic assessment of the Santo Tomas project based on technical work by a team that included Mintec, Inc., Mountain States Research and Development, Inc., and Minetek S.A. de C.V. Bateman completed this study, termed “Santo Tomas Project, Sinaloa, Mexico, Pre-Feasibility Study.” Current drilling activity is intended to confirm the historical project data and to further define the extent and quality of the resource. While the economic assessment by Bateman contains favourable metallurgical test results and engineering designs that remain broadly acceptable today, the Company considers these historical economic studies and associated mineral resource estimates to be only conceptual in nature until confirmed by current technical programs.
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